With the government announcing the second stage of economic reform , which is represented in structural reform, as the program targets, for the first time, real sectors promising radical structural reforms, with the aim of increasing the flexibility of the Egyptian economy, raising its ability to absorb external and internal shocks, and converting its path to a productive economy with competitive advantages, Including supporting its ability to achieve balanced and sustainable growth.
We review the following 5 important indicators of the success of the economic reform plan during the last period
- achieving a first surplus instead of a primary deficit in the budget as a percentage of GDP, registering 0, 4% in the period from July 2020 to March 2021 compared to -1.2% in the period from July 2016 to March 2017.
- The decrease in the budget deficit as a percentage of GDP, to reach 4.5% in the period from July 2020 to March 2021, compared to 7.9% in the period from July 2016 to March 2017.
- The unemployment rate decreased in the first quarter of 2021, registering 7.4%, compared to 12% in the same quarter in 2017.
- External debt decreased as a percentage of the GDP, recording 34% in the second quarter of 2020/2021, compared to 37.6% in the same quarter of 2016/2017.
- It is represented in raising the economic growth rate to range from 6% to 7% in 2023/2024 compared to 3.6% in 2019/2020